Friday, January 18, 2008

Coffee with Farook

I'm not sure why Farook asked me to join him for coffee last week. Farook had placed an ad in the local newspapers saying he wanted a partner, and had gotten a few calls. He was to meet one of these callers, a Citizen of the UAE, for coffee.

The Citizen spoke perfect English, unlike Farook. He had been sent to an English school in Dubai, and then to a Canadian University. He said his father had died, leaving the family destitute, but, by hard work day-trading the Dubai stock market, he had accumulated more than five hundred thousand Euros.

Then Farook started speaking Arabic, and the citizen replied in Arabic.

As best I was able to obtain the result of the conversation, Farook said that his business generated gross revenues of €500,000 each year, and his expenses were only €50,000.

'Your employees, what nationality?' asked the citizen.

'One Philippina,' answered Farook.

'Very good, Philippinas are very good workers. And who else?'

'One Latvian.'

'Very bad. Latvians will always cheat you.'

The Citizen offered to pay 1/2 of Farook's expenses, in exchange for 1/2 of Farook's revenue.

Farook said he needed some money for 'goodwill,' but the citizen refused.

'There are many businesses in Dubai, and many do not ask for this money,' said the Citizen after Farook's desperate demands.

So Farook and I left.

As best I could tell, the citizen hoped that, for €25,000, he'd get €250,000. Farook hoped the citizen would invest, after which the business would prove unprofitable, rather like the movie and Broadway play, 'The Producers.'